Xin Lang Ke Ji·2025-11-13 11:52Core Insights - Bilibili reported total net revenue of 7.69 billion yuan (approximately 1.08 billion USD) for Q3 2025, representing a year-on-year growth of 5% [6] - The company achieved a net profit of 469.4 million yuan (approximately 65.9 million USD), compared to a net loss of 79.8 million yuan in the same period of 2024 [14] - Adjusted net profit, not in accordance with US GAAP, was 786.3 million yuan (approximately 110.5 million USD), marking a significant year-on-year increase of 233% [15] Financial Performance - Total net revenue for Q3 2025 was 7.69 billion yuan (approximately 1.08 billion USD), with revenue from value-added services at 3.02 billion yuan (approximately 424.6 million USD), up 7% year-on-year [6] - Advertising revenue reached 2.57 billion yuan (approximately 361 million USD), a 23% increase year-on-year, attributed to improved advertising products and efficiency [6] - Mobile gaming revenue was 1.51 billion yuan (approximately 212.2 million USD), down 17% year-on-year due to a high comparison base from the previous year [6] - Revenue from IP derivatives and other businesses was 582.3 million yuan (approximately 81.8 million USD), reflecting a 3% year-on-year growth [7] User Engagement - Average daily active users (DAU) for Q3 2025 reached 117.3 million, a 9% increase year-on-year [2] - Monthly active users (MAU) stood at 376 million, representing an 8% year-on-year growth [3] - The number of monthly paying users was 35 million, up 17% year-on-year [4] - Users spent an average of 112 minutes per day on the platform, a historical high, increasing by 6 minutes compared to the same period last year [5] Cost and Expenses - Cost of revenue was 4.87 billion yuan (approximately 683.7 million USD), a 2% increase year-on-year, primarily due to higher revenue-sharing costs [8] - Total operating expenses were 2.46 billion yuan (approximately 346.1 million USD), down 6% year-on-year [10] - Sales and marketing expenses decreased by 13% year-on-year to 1.05 billion yuan (approximately 147.6 million USD) due to reduced mobile game marketing spending [10] Profitability - Operating profit for Q3 2025 was 353.9 million yuan (approximately 49.7 million USD), compared to an operating loss of 66.7 million yuan in the same period of 2024 [12] - Adjusted operating profit, not in accordance with US GAAP, was 687.9 million yuan (approximately 96.6 million USD), a 153% year-on-year increase [12] Cash Flow and Share Buyback - Net cash provided by operating activities was 2.02 billion yuan (approximately 283.2 million USD), compared to 2.23 billion yuan in the same period of 2024 [16] - As of September 30, 2025, Bilibili held cash and cash equivalents totaling 23.49 billion yuan (approximately 3.30 billion USD) [17] - The company repurchased 6.4 million shares at a total cost of 116.4 million USD under a two-year share buyback plan approved in November 2024 [18]